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Housing Loan

Housing Loan up to Rs.50 lacs is available for construction/purchase of old/new flat, bunglows, raw house and also for carryout addition/alteration in the existing residential house.

We are member of Deposit Insurance and Credit Guarantee Corporation, hence customer’s deposits are insured up to Rs. 5 Lac.

Applicant Details

  • Copy of Last Three years income tax return, Pan Card
  • If Applicant is businessman in that case last three years copies of balance sheet, income tax return of the proprietor/partner, statement of capital account.
  • If property is to be purchased under housing scheme, the copies of documents, such as share certificate, allotment-letter, sale deed, revenue records of 7/12.
  • Copy of authorized building plan.
  • Copy of receipt of advanced payment-made/copy of agreement to sale
  • Copy of title clearance certificate given by the advocate/ solicitor.
  • Consent letter from the society about noting of charge of the bank.
  • Copy of PAN Card
  • Address proof - electric bill /telephone bill (any one)
  • Photo proof - Pan card / Voter card / Driving license (Any one)

Guarantor Details

  • Passport size photographs
  • Last tax bill
  • Last income tax return copy
  • Address proof - electric bill /telephone bill (any one) As per KYC norms
  • Photo proof - Pan card / Voter card / Driving license (Any one) As per KYC norms

Conditions

  • Original documents of property to be submitted to the bank. Registered mortgage of property to be done in favour of bank. Bank charge will be noted in society's book.
  • Valuation of the property will be required for old property. Bank will give loan of 80% of valuation amount.(for old property)
  • Bank will give loan if property is having N.A.N.O.C and BU permission
  • Applicant will have to take insurance of the building in favour of bank.
  • Two guarantor required for loan.
  • Loan amount with interest will be repaid within 168 equal monthly installments.
  • Applicant has to submit original share certificate of the Society/Association, Municipal Tax bill, Tax receipt, sales deed etc, for registered mortgage of the property.
  • Title clearance and valuation report will be done by approved lawyer and valuer of the bank. Applicant has to pay their fees.
  • Applicant has to take share @2.50% of the limit.